FedEx acquires Watkins

FedEx Corp. has completed its $780-million cash purchase of the LTL operations of Lakeland, FL-based Watkins Motor Lines and certain affiliates. Annual revenue for the longhaul carrier is pegged at more than $1-billion.

Watkins Motor Lines and Watkins Canada Express, which together include more than 140 service centers and over 14,000 tractors and trailers, will be re-branded FedEx National LTL and FedEx Freight Canada, respectively. They will operate as separate networks within the FedEx Freight segment.